Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Apparel Accessories in Canada

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Executive Summary

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PROSPECTS

Hats/caps remains the largest category with steady growth

Hats/caps was the largest category in apparel accessories over the review period. Either worn as fashionable accessories, or as sun or cold protection, hats/caps are small-ticket accessories that target consumers in all age groups.

Fast fashion retailers drive volume growth

The volume growth of apparel accessories was supported by the expansion of fast fashion retailers, due to the subsequent affordability and quick turnover of trend-led fashion accessories. Despite rising disposable income in Canada, consumer expenditure on apparel did not grow significantly.

High-end players expand apparel accessories lines

Both luxury and high-end fashion brand manufacturers consider apparel accessories as an important part of their product portfolio. These well-established labels leverage their strong brand equity and launch new apparel accessories collections at the start of each season.

COMPETITIVE LANDSCAPE

Private label competes with its appealing value proposition

Private label combined held a significant value share in apparel accessories, mainly due to the competitive prices and extensive retail network. With a vast variety of brand choices, consumers show relatively low brand loyalty in apparel accessories.

Apparel accessories remains fragmented and competitive

Apparel accessories in Canada remains a highly fragmented and competitive category with a very large number of international and domestic manufacturers present. No single player could dominate the category because the taste, brand preference and budget of consumers vary dramatically.

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